LUBBOCK - The Texas Tech Board of Regents has approved a $15 million addition to the Rawls College of Business, which will be funded by student fees. The addition is scheduled for completion in March 2015, and should accommodate growth in the business school through 2020.

The project will add an extra 30,000 to 38,000 gross sf to the existing structure. It will include graduate and undergraduate classrooms, new technology and more offices for faculty and staff.

The addition is necessary because of a 20 percent increase in freshman enrollment for 2014. In the existing building, there will not be enough classroom space for those students when they become juniors and seniors.

The student fee amounts to $1,200 for undergraduates and $600 for graduate students throughout their enrollment in the Rawls College, according to Dean Lance Nail.

“There’s no change for the current students. Additional future generations will have to supply the fee,” according to Noel Sloan, Texas Tech CFO.